Quantamental Technologies LLC Purchases Shares of 10,076 Rocket Companies, Inc. (NYSE:RKT)

Posted by on Mar 12th, 2023

Quantamental Technologies LLC acquired a new position in shares of Rocket Companies, Inc. (NYSE:RKT – Get Rating) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 10,076 shares of the company’s stock, valued at approximately $64,000.

Several other institutional investors have also made changes to their positions in the business. Ancora Advisors LLC bought a new position in shares of Rocket Companies during the first quarter valued at $81,000. FMR LLC lifted its holdings in Rocket Companies by 134.7% during the 2nd quarter. FMR LLC now owns 3,598 shares of the company’s stock valued at $26,000 after purchasing an additional 2,065 shares during the last quarter. US Bancorp DE grew its stake in Rocket Companies by 341.4% during the first quarter. US Bancorp DE now owns 4,414 shares of the company’s stock worth $49,000 after buying an additional 3,414 shares during the last quarter. Captrust Financial Advisors increased its holdings in shares of Rocket Companies by 178.2% during the second quarter. Captrust Financial Advisors now owns 4,451 shares of the company’s stock worth $33,000 after buying an additional 2,851 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp acquired a new stake in shares of Rocket Companies during the first quarter worth approximately $52,000. 3.99% of the stock is currently owned by institutional investors and hedge funds.

Rocket Companies Trading Down 2.8 %

Shares of NYSE RKT opened at $8.06 on Friday. Rocket Companies, Inc. has a fifty-two week low of $5.97 and a fifty-two week high of $11.70. The firm has a market capitalization of $15.88 billion, a P/E ratio of 25.19 and a beta of 2.05. The company has a debt-to-equity ratio of 0.97, a current ratio of 10.67 and a quick ratio of 10.67. The company’s 50 day simple moving average is $8.58 and its 200 day simple moving average is $7.81.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. increased their price target on Rocket Companies from $7.00 to $8.00 in a research report on Tuesday, January 10th. Citigroup lifted their price target on Rocket Companies from $7.00 to $8.00 and gave the company a “neutral” rating in a report on Wednesday, March 1st. Wells Fargo & Company upped their price target on shares of Rocket Companies from $7.00 to $10.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 6th. Barclays raised their price objective on shares of Rocket Companies from $4.50 to $6.00 in a research report on Friday, January 6th. Finally, UBS Group set a $8.00 target price on shares of Rocket Companies in a research report on Wednesday, November 23rd. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Rocket Companies presently has an average rating of “Hold” and a consensus target price of $7.67.

Insider Buying and Selling at Rocket Companies

In related news, CEO Jay Farner acquired 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 15th. The stock was acquired at an average cost of $8.00 per share, with a total value of $200,000.00. Following the completion of the purchase, the chief executive officer now directly owns 5,914,807 shares in the company, valued at $47,318,456. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In the last 90 days, insiders acquired 36,200 shares of company stock worth $286,156. Insiders own 94.01% of the company’s stock.

Rocket Companies Company Profile

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Rocket Companies, Inc, a fintech holding company, provides mortgage lending, title and settlement services, and other financial technology services in the United States and Canada. It operates through two segments, Direct to Consumer and Partner Network. The company's solutions include Rocket Mortgage, a mortgage lender; Amrock that provides title insurance, property valuation, and settlement services; Rocket Homes, a home search platform and real estate agent referral network, which offers technology-enabled services to support the home buying and selling experience; Rocket Auto, an automotive retail marketplace that provides centralized and virtual car sales support to online car purchasing platforms; and Rocket Loans, an online-based personal loans business.

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Institutional Ownership by Quarter for Rocket Companies (NYSE:RKT)

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